Post
Topic
Board Mining (Altcoins)
Re: Ethereum mining still profitable?
by
IanFoxley
on 12/02/2016, 14:25:00 UTC

Yeah we really cant predict the future but there are many signs that shows increased market awareness about ETH. One of the biggest examples is Genesis Mining offering ETH mining plans now. Another one would be the spike in transaction volume across many important exchanges. This is mostly caused by chinese mining farms entering the party. And like i said before, the window to make a profit is getting narrower everyday.

We all know ETH is turning to POS in one year. I think this fact can lead/is leading to an "ETH rush" that has the potential to make the price go higher this year.



The genesis mining service is too expensive. It offer 12 month mining plan. But Ethereum will be mineable for only 10 months. It will change to PoS then.

If you read the contract they do say that at some point in the future when ETH turns to POS they will convert your ETH contract to X11 at a ratio of 1 MHS Eth to 1MH/s X11 until your contract ends. I am still so amazed that nobody reads a TOS when you purchase a cloud mining contract.

I have been mining at home with just one R9 280 X, get around 24 MH/s with it. I did Ethpool for a lttile while, took about 6 days at the time to get rewarded with a block but since then I just solo mined in and then in a week I got two blocks which i thought was ok, but since then nothing but thats the luck of mining I guess